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prepare journal entries for 2017 transactions. as well as any necessary adjusting entries at the end of the year. assume the information is being gathered to prepare a fund financial statements.

please show and calculations if there are any.

statements How does a primary government prove that it can impose its will 8. What is meant by the blending of a component unit? 34. The County of Maxnell decides to create a sanitation department and offer its services to the public for a fee. As a result, county officials plan to account for this activity within the enter- prise funds. Prepare journal entries for this operation for the following 2017 transactions as well as necessary adjusting entries at the end of the year. Assume the information is being gathered to prepare fund financial statements. Only entries for the sanitation department are required here: January 1-Received unrestricted funds of $160,000 from the general fund as permanent financing. February 1-Borrowed an additional $130,000 from a local bank at a 12 percent annual interest rate. March 1-Ordered a truck at an expected cost of $108,000. April 1-Received the truck and made full payment. The actual cost amounted to $110,000. The truck has a 10-year life and no salvage value. Straight-line depreciation is to be used. May 1 --Received a $20,000 cash grant from the state to help supplement the pay of the sanitation workers. The money must be used for that purpose. June 1-Rented a garage for the truck at a cost of $1,000 per month and paid 12 months of rent in advance. July 1 Charged citizens $13,000 for services. Of this amount, $11.000 has been collected. August 1-Made a $10,000 cash payment on the 12 percent note of February 1. This payment cov- ers both interest and principal. September 1-Paid salaries of $18,000 using the grant received on May 1. October 1-Paid truck maintenance costs of $1,000. November 1-Paid additional salaries of $10,000, first using the rest of the grant money received May 1 December 31Sent invoices totaling $19,000 to customers for services over the past six months. Collected $3,000 cash immediately. December 31-A new landfill was opened this year. It is 12 percent filled as of the end of the year. The estimated current cost for the eventual closure of this facility is $4 million although no pay ments will be made for approximately 9 years. 35. The following information pertains to the City of Williamson for 2017, its first year of legal exis- tense. For convenie

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